NOORDOEVER: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
NOORDOEVER
Largest movements
- Cash -€167,409
down €167,409 (-57.3%), from €292,392 to €124,983
mainly Contributions, distributions and other (-€146,733) and Investment in fixed assets (net) (-€71,863)
- Tangible fixed assets +€40,388
up €40,388 (+7.6%), from €532,493 to €572,880
of which Furniture and vehicles: +€64,352
- Reserves -€63,756
down €63,756 (-20.2%), from €316,290 to €252,534
- Debts after one year -€45,139
down €45,139 (-14.0%), from €322,894 to €277,755
of which Financial debts: -€45,139
- Other debts -€39,033
down €39,033 (-26.5%), from €147,438 to €108,404
- Trade debts +€11,034
up €11,034 (+25.0%), from €44,219 to €55,253
- Staff costs +€56,281
up €56,281 (+25.8%), from €218,304 to €274,586
- Gross operating margin +€40,262
up €40,262 (+10.2%), from €393,525 to €433,787
- Taxes -€17,035
down €17,035 (-44.4%), from €38,344 to €21,310
- Other operating charges +€9,225
up €9,225 (+131%), from €7,049 to €16,274
- Financial income -€9,108
down €9,108 (-84.1%), from €10,825 to €1,717
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €939,768 | €807,393 | -€132,375 | -14.1% |
| Fixed assets | 21/28 | €532,493 | €572,880 | +€40,388 | +7.6% |
| Tangible fixed assets | 22/27 | €532,493 | €572,880 | +€40,388 | +7.6% |
| Land and buildings | 22 | €522,066 | €495,451 | -€26,615 | -5.1% |
| Plant, machinery and equipment | 23 | €8,132 | €10,783 | +€2,651 | +32.6% |
| Furniture and vehicles | 24 | €2,295 | €66,647 | +€64,352 | +2,805% |
| Current assets | 29/58 | €407,276 | €234,513 | -€172,763 | -42.4% |
| Amounts receivable within one year | 40/41 | €14,883 | €9,499 | -€5,384 | -36.2% |
| Trade receivables | 40 | €14,883 | €5,652 | -€9,231 | -62.0% |
| Other amounts receivable | 41 | - | €3,847 | +€3,847 | |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €292,392 | €124,983 | -€167,409 | -57.3% |
| Deferred charges and accrued income | 490/1 | - | €30 | +€30 | |
| Total equity and liabilities | 10/49 | €939,768 | €807,393 | -€132,375 | -14.1% |
| Equity | 10/15 | €334,890 | €271,134 | -€63,756 | -19.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €316,290 | €252,534 | -€63,756 | -20.2% |
| Distributable reserves | 133 | €316,290 | €252,534 | -€63,756 | -20.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €3,000 | €0 | -€3,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €3,000 | €0 | -€3,000 | -100% |
| Major repairs and maintenance | 162 | €3,000 | €0 | -€3,000 | -100% |
| Amounts payable | 17/49 | €601,878 | €536,259 | -€65,619 | -10.9% |
| Amounts payable after more than one year | 17 | €322,894 | €277,755 | -€45,139 | -14.0% |
| Financial debts | 170/4 | €238,473 | €193,334 | -€45,139 | -18.9% |
| Other amounts payable | 178/9 | €84,421 | €84,421 | = | 0.0% |
| Amounts payable within one year | 42/48 | €275,616 | €255,212 | -€20,404 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €44,661 | €45,139 | +€478 | +1.1% |
| Trade debts | 44 | €44,219 | €55,253 | +€11,034 | +25.0% |
| Suppliers | 440/4 | €44,219 | €55,253 | +€11,034 | +25.0% |
| Advances received on contracts in progress | 46 | €587 | €1,548 | +€961 | +164% |
| Taxes, remuneration and social security | 45 | €38,711 | €44,868 | +€6,157 | +15.9% |
| Taxes | 450/3 | €29,732 | €32,146 | +€2,415 | +8.1% |
| Remuneration and social security | 454/9 | €8,979 | €12,721 | +€3,743 | +41.7% |
| Other amounts payable | 47/48 | €147,438 | €108,404 | -€39,033 | -26.5% |
| Accrued charges and deferred income | 492/3 | €3,368 | €3,292 | -€77 | -2.3% |
| Remuneration, social security and pensions | 62 | €218,304 | €274,586 | +€56,281 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,710 | €31,475 | +€765 | +2.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€3,000 | -€3,000 | |
| Other operating charges | 640/8 | €7,049 | €16,274 | +€9,225 | +131% |
| Gross operating margin | 9900 | €393,525 | €433,787 | +€40,262 | +10.2% |
| Operating profit (loss) | 9901 | €137,461 | €114,452 | -€23,009 | -16.7% |
| Financial income | 75/76B | €10,825 | €1,717 | -€9,108 | -84.1% |
| Recurring financial income | 75 | €10,825 | €1,717 | -€9,108 | -84.1% |
| Financial charges | 65/66B | €9,267 | €11,883 | +€2,616 | +28.2% |
| Recurring financial charges | 65 | €9,267 | €11,883 | +€2,616 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €139,019 | €104,286 | -€34,732 | -25.0% |
| Income taxes | 67/77 | €38,344 | €21,310 | -€17,035 | -44.4% |
| Profit (loss) for the period | 9904 | €100,675 | €82,977 | -€17,698 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,675 | €82,977 | -€17,698 | -17.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.